Alibaba Group Holding Ltd. (HK:9988) has released an update.
Alibaba Group Holding Ltd. has announced that its Audit Committee is instrumental in overseeing the integrity of financial statements, auditor independence, and internal audit efficacy, as well as ensuring legal compliance and robust accounting practices. The committee, meeting at least quarterly, is composed of members appointed by the Board of Directors, including at least one financial expert, and operates under regulations including the Sarbanes-Oxley Act and SEC guidelines. Their role is to facilitate transparent communication between the company’s management, auditors, and the board, maintaining high governance standards.
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